Why don't we discuss the same for other domains like marketing and finance that often?
Is it because we are not happy with the present contribution of HR?
Are we not experiencing our true potential as HR proffesionals?
Or is it because this is the only domain that strives to create greater value for itself?
Being a first year HR student with little corporate experience, I am not the best person to comment on it. But I will leave you with these questions which will produce greater food for thought.
I came across this article in Abhijit Bhaduri's website which deals with 'Predictive Analysis for HR'.
Following are some of my key learnings based on the conversation between Abhijit Bhaduri and Atanu Basu :
- Predictive Analysis takes multiple, pertinent datasets and business rules into account, and then uses mathematical techniques to make contextual and actionable predictions.
- Its different from using conventional metrics because Metrics focus on tracking what was. Analytics can extend this to what will be and what if.
- A process of predictive Root Cause Analysis can then identify, quantify, and rank the primary drivers responsible for attrition among each ‘at risk’ group.
- Predictive Analysis can not do much (if anything at all) for you; it only becomes powerful when you “partner” with it.
- If you are well aware of your business then you are more ready to use Predictive Analysis much more than you think.
Now, This is the future of HR according to me. This needs to be discussed and followed sincerely to champion greater HR causes.
Following is the comment I left in the website:
I feel this encapsulates the future of HR in a much more convincing way than what is discussed in various seminars and conferences…
However, I feel HR itself should get the quantitative tools in place rather than hire a statistics expert.
Truly very informative….
Clearly there is much more between and beyond that 10% attrition rate…